Vertafore to buy unit of Kaplan, plans to add its 100 employees

Vertafore might be one of the biggest software companies in the Seattle area that you’ve never heard of. And the Bothell maker of insurance-related products is getting a little bigger. Vertafore announced today that its Sircon subsidiary is buying Indianapolis-based Kaplan Compliance Solutions, a unit of Kaplan University’s School of Professional and Continuing Education.

As a result of the deal, about 100 employees from Kaplan will join Sircon. Vertafore itself now employs over 1,200 people.

“The acquisition of KCS underscores our commitment to delivering services to carriers, broker-dealers and other financial institutions that allow them to efficiently manage their compliance risk while expanding their producer force and generating revenue more quickly,” said Euan Menzies, president and CEO of Vertafore

Terms of the acquisition were not disclosed.